Globus Medical (GMED) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Entity Registrant Name	GLOBUS MEDICAL, INC.
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		97,781,223
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $.001 per share
Trading Symbol	GMED
Security Exchange Name	NYSE
Entity File Number	001-35621
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3744954
Entity Address, Address Line One	2560 General Armistead Avenue
Entity Address, City or Town	Audubon
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19403
City Area Code	610
Local Phone Number	930-1800
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001237831
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash, cash equivalents, and restricted cash	$ 165,554	$ 195,724
Short-term marketable securities	151,181	115,763
Accounts receivable, net of allowances of $8,117 and $5,599, respectively	132,092	154,326
Inventories	224,457	196,314
Prepaid expenses and other current assets	19,625	17,243
Income taxes receivable	3,982	8,098
Total current assets	696,891	687,468
Property and equipment, net of accumulated depreciation of $257,885 and $243,732, respectively	211,902	199,841
Long-term marketable securities	319,483	409,514
Intangible assets, net	85,226	78,812
Goodwill	129,184	128,775
Other assets	21,070	21,741
Deferred income taxes	2,046	5,926
Total assets	1,465,802	1,532,077
Current liabilities:
Accounts payable	27,715	24,614
Accrued expenses	69,243	63,283
Income taxes payable	1,990	1,057
Business acquisition liabilities	665	6,727
Deferred revenue	6,513	5,402
Payable to broker		10,320
Total current liabilities	106,126	111,403
Business acquisition liabilities, net of current portion	3,551	2,822
Deferred income taxes	5,046	6,023
Other liabilities	14,164	9,377
Total liabilities	128,887	129,625
Commitments and contingencies (Note 12)
Equity:
Additional paid-in capital	387,611	357,320
Accumulated other comprehensive income (loss)	1,298	(2,898)
Retained earnings	947,909	1,047,931
Total equity	1,336,915	1,402,452
Total liabilities and equity	1,465,802	1,532,077
Common Class A [Member]
Equity:
Common stock	75	77
Common Class B [Member]
Equity:
Common stock	$ 22	$ 22

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Accounts receivable, allowances	$ 8,117	$ 5,599
Property and equipment
Accumulated depreciation	$ 257,885	$ 243,732
Equity:
Common stock, shares authorized	775,000,000
Common stock, shares issued	97,756,815	99,825,080
Common stock, shares outstanding	97,756,815	99,825,080
Common Class A [Member]
Equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	75,326,718	77,394,983
Common stock, shares outstanding	75,326,718	77,394,983
Common Class B [Member]
Equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	275,000,000	275,000,000
Common stock, shares issued	22,430,097	22,430,097
Common stock, shares outstanding	22,430,097	22,430,097

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Consolidated Statements of Income [Abstract]
Sales	$ 148,922	$ 194,539	$ 339,499	$ 377,486
Cost of goods sold	50,643	43,990	99,507	85,828
Gross profit	98,279	150,549	239,992	291,658
Operating expenses:
Research and development	39,455	15,746	54,857	30,069
Selling, general and administrative	80,019	88,379	173,558	174,163
Provision for litigation	197		197
Amortization of intangibles	4,115	3,449	7,891	6,792
Acquisition related costs	56	106	604	685
Total operating expenses	123,842	107,680	237,107	211,709
Operating income/(loss)	(25,563)	42,869	2,885	79,949
Interest income/(expense), net	3,590	4,417	7,914	8,576
Foreign currency transaction gain/(loss)	(168)	(210)	(636)	(22)
Other income/(expense)	199	17	393	241
Total other income/(expense), net	3,621	4,224	7,671	8,795
Income/(loss) before income taxes	(21,942)	47,093	10,556	88,744
Income tax provision	(1,105)	8,930	5,444	17,370
Net income/(loss)	$ (20,837)	$ 38,163	$ 5,112	$ 71,374
Earnings per share:
Basic	$ (0.21)	$ 0.39	$ 0.05	$ 0.72
Diluted	$ (0.21)	$ 0.38	$ 0.05	$ 0.70
Weighted average shares outstanding:
Basic	97,509	99,023	98,572	98,875
Dilutive stock options		2,559	2,420	2,600
Diluted	97,509	101,582	100,992	101,475
Anti-dilutive stock options excluded from weighted average calculation	11,680	5,021	6,645	4,854

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income/(loss)	$ (20,837)	$ 38,163	$ 5,112	$ 71,374
Other comprehensive income/(loss):
Unrealized gain/(loss) on marketable securities, net of tax	6,897	1,984	3,055	3,783
Foreign currency translation gain/(loss)	667	1,768	1,141	1,661
Total other comprehensive income/(loss)	7,564	3,752	4,196	5,444
Comprehensive income/(loss)	$ (13,273)	$ 41,915	$ 9,308	$ 76,818

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Retained Earnings [Member]	Total
Shares, Outstanding, Beginning Balance at Dec. 31, 2018	76,144	22,431
Total equity, beginning of period at Dec. 31, 2018	$ 76	$ 22	$ 299,869	$ (7,172)	$ 892,721	$ 1,185,516
Stock-based compensation			6,541			6,541
Exercise of stock options (shares)	407
Exercise of stock options	$ 1		10,255		(1)	10,255
Comprehensive income/(loss)				1,692	33,210	34,902
Total equity, end of period at Mar. 31, 2019	$ 77	$ 22	316,665	(5,480)	925,930	1,237,214
Shares, Outstanding, Ending Balance at Mar. 31, 2019	76,551	22,431
Shares, Outstanding, Beginning Balance at Dec. 31, 2018	76,144	22,431
Total equity, beginning of period at Dec. 31, 2018	$ 76	$ 22	299,869	(7,172)	892,721	1,185,516
Comprehensive income/(loss)						76,818
Total equity, end of period at Jun. 30, 2019	$ 77	$ 22	325,061	(1,728)	964,094	1,287,526
Shares, Outstanding, Ending Balance at Jun. 30, 2019	76,647	22,431
Shares, Outstanding, Beginning Balance at Dec. 31, 2018	76,144	22,431
Total equity, beginning of period at Dec. 31, 2018	$ 76	$ 22	299,869	(7,172)	892,721	1,185,516
Cumulative effect of adoption of accounting standards					(468)	(468)
Total equity, end of period at Dec. 31, 2019	$ 77	$ 22	357,320	(2,898)	1,047,931	1,402,452
Shares, Outstanding, Ending Balance at Dec. 31, 2019	77,394	22,431
Shares, Outstanding, Beginning Balance at Mar. 31, 2019	76,551	22,431
Total equity, beginning of period at Mar. 31, 2019	$ 77	$ 22	316,665	(5,480)	925,930	1,237,214
Stock-based compensation			6,381			6,381
Exercise of stock options (shares)	96
Exercise of stock options			2,015		1	2,016
Comprehensive income/(loss)				3,752	38,163	41,915
Total equity, end of period at Jun. 30, 2019	$ 77	$ 22	325,061	(1,728)	964,094	1,287,526
Shares, Outstanding, Ending Balance at Jun. 30, 2019	76,647	22,431
Shares, Outstanding, Beginning Balance at Dec. 31, 2019	77,394	22,431
Total equity, beginning of period at Dec. 31, 2019	$ 77	$ 22	357,320	(2,898)	1,047,931	1,402,452
Stock-based compensation			6,902			6,902
Exercise of stock options (shares)	190
Exercise of stock options	$ 1		5,762			5,763
Comprehensive income/(loss)				(3,368)	25,949	22,581
Repurchase and retirement of common stock (stock)	(1,920)
Repurchase and retirement of common stock	$ (2)				(73,862)	(73,864)
Total equity, end of period at Mar. 31, 2020	$ 76	$ 22	369,984	(6,266)	999,550	1,363,366
Shares, Outstanding, Ending Balance at Mar. 31, 2020	75,664	22,431
Shares, Outstanding, Beginning Balance at Dec. 31, 2019	77,394	22,431
Total equity, beginning of period at Dec. 31, 2019	$ 77	$ 22	357,320	(2,898)	1,047,931	$ 1,402,452
Exercise of stock options (shares)						624
Comprehensive income/(loss)						$ 9,308
Total equity, end of period at Jun. 30, 2020	$ 75	$ 22	387,611	1,298	947,909	1,336,915
Shares, Outstanding, Ending Balance at Jun. 30, 2020	75,327	22,430
Shares, Outstanding, Beginning Balance at Mar. 31, 2020	75,664	22,431
Total equity, beginning of period at Mar. 31, 2020	$ 76	$ 22	369,984	(6,266)	999,550	1,363,366
Stock-based compensation			7,426			7,426
Exercise of stock options (shares)	434
Exercise of stock options (shares)		(1)
Exercise of stock options			10,201			10,201
Comprehensive income/(loss)				7,564	(20,837)	(13,273)
Repurchase and retirement of common stock (stock)	(771)
Repurchase and retirement of common stock	$ (1)				(30,804)	(30,805)
Total equity, end of period at Jun. 30, 2020	$ 75	$ 22	$ 387,611	$ 1,298	$ 947,909	$ 1,336,915
Shares, Outstanding, Ending Balance at Jun. 30, 2020	75,327	22,430

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 5,112	$ 71,374
Adjustments to reconcile net income to net cash provided by operating activities
Acquired in-process research and development	24,418
Depreciation and amortization	29,669	25,113
Amortization of premium (discount) on marketable securities	104	(736)
Write-down for excess and obsolete inventories	7,216	2,468
Stock-based compensation expense	14,118	12,749
Allowance for doubtful accounts	2,455	1,229
Change in fair value of business acquisition liabilities	463	579
Change in deferred income taxes	(1,127)	1,424
(Gain)/loss on disposal of assets, net	625	295
(Increase)/decrease in:
Accounts receivable	19,306	(6,532)
Inventories	(34,371)	(28,094)
Prepaid expenses and other assets	(2,875)	(2,933)
Increase/(decrease) in:
Accounts payable	2,974	(901)
Accrued expenses and other liabilities	(7,756)	(8,744)
Income taxes payable/receivable	5,030	(5,491)
Net cash provided by operating activities	65,361	61,800
Cash flows from investing activities:
Purchases of marketable securities	(57,418)	(210,606)
Maturities of marketable securities	88,383	161,568
Sales of marketable securities	17,405	25,490
Purchases of property and equipment	(32,270)	(42,895)
Acquisition of businesses, net of cash acquired and purchases of intangible and other assets	(21,991)	(24,135)
Net cash used in investing activities	(5,891)	(90,578)
Cash flows from financing activities:
Payment of business acquisition liabilities	(853)	(5,633)
Proceeds from exercise of stock options	15,964	12,268
Repurchase of common stock	(104,669)
Net cash used in/provided by financing activities	(89,558)	6,635
Effect of foreign exchange rate on cash	(82)	186
Net increase in cash, cash equivalents, and restricted cash	(30,170)	(21,957)
Cash, cash equivalents, and restricted cash at beginning of period	195,474	139,647
Cash, cash equivalents, and restricted cash at end of period	165,554	117,790
Supplemental disclosures of cash flow information:
Interest paid	7	4
Income taxes paid	$ 2,147	$ 23,975

BACKGROUND AND SUMMARY OF SIGNI

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2020
BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Background and Summary of Significant Accounting Policies	NOTE 1. BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) The Company Globus Medical, Inc., together with its subsidiaries, is a medical device company that develops and commercializes healthcare solutions whose mission is to improve the quality of life of patients with musculoskeletal disorders. We are primarily focused on implants that promote healing in patients with musculoskeletal disorders, including the use of a robotic guidance and navigation system and products to treat patients who have experienced orthopedic traumas. We are an engineering-driven company with a history of rapidly developing and commercializing advanced products and procedures to assist surgeons in effectively treating their patients and address new treatment options. With over 210 products on the market, we offer a comprehensive portfolio of innovative and differentiated technologies that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches. We are headquartered in Audubon, Pennsylvania, and market and sell our products through our exclusive sales force in the United States, as well as within North, Central & South America, Europe, Asia, Africa and Australia. The sales force consists of direct sales representatives and distributor sales representatives employed by exclusive independent distributors. The terms the “Company,” “Globus,” “we,” “us” and “our” refer to Globus Medical, Inc. and, where applicable, our consolidated subsidiaries. (b) COVID-19 Pandemic Impact On March 11, 2020, the World Health Organization declared the novel strain of coronavirus ("COVID-19") a global pandemic and recommended containment and mitigation measures worldwide. The pandemic has significantly impacted the economic conditions in the U.S. and globally as federal, state and local governments react to the public health crisis, creating significant uncertainties in the economy. While emergency and time-sensitive surgical procedures continue, as of the date of this filing, the Company has been impacted by temporary postponement of elective surgeries in hospitals and surgical facilities worldwide. The Company cannot reasonably estimate the length or severity of this pandemic, however, as a result of these developments the Company expects a material adverse impact on its sales, results of operations, and cash flows in the remainder of fiscal 2020, and potentially fiscal 2021. In response to these developments, the Company will continue to monitor liquidity and cash flow. (c) Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in complete financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2019. In the opinion of management, the statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position and of the results for the three and six month periods presented. The results of operations for any interim period are not indicative of results for the full year. (d) Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Globus and its wholly-owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation. (e) Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates, in part, on historical experience that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the condensed consolidated financial statements in the period they are determined to be necessary. Significant areas that require management’s estimates include intangible assets, business acquisition liabilities, stock-based compensation, write-down for excess and obsolete inventory, useful lives of assets, the outcome of litigation, recoverability of intangible assets and income taxes. We are subject to risks and uncertainties due to changes in the healthcare environment, regulatory oversight, competition, and legislation that may cause actual results to differ from estimated results. (f) Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows June 30, December 31, June 30, December 31, (In thousands) 2020 2019 2019 2018 Cash and cash equivalents $ 165,554 $ 195,474 $ 117,790 $ 139,647 Restricted cash — 250 — 100 Total cash, cash equivalents, and restricted cash as presented in the condensed consolidated statement of cash flows $ 165,554 $ 195,724 $ 117,790 $ 139,747 (g) Marketable Securities Our marketable securities include municipal bonds, corporate debt securities, commercial paper, securities of government, federal agency, and other sovereign obligations, and asset-backed securities, and are classified as available-for-sale as of June 30, 2020 and December 31, 2019. Available-for-sale securities are recorded at fair value in both short-term and long-term marketable securities on our condensed consolidated balance sheets. The change in fair value for available-for-sale securities, that do not result in recognition or reversal of an allowance for credit loss or write-down, is recorded, net of taxes, as a component of accumulated other comprehensive income or loss on our condensed consolidated balance sheets. Premiums and discounts are recognized over the life of the related security as an adjustment to yield using the straight-line method. Realized gains or losses from the sale of our marketable securities are determined on a specific identification basis. Realized gains and losses, along with interest income and the amortization/accretion of premiums/discounts are included as a component of other income/(expense), on our condensed consolidated statements of income. Interest receivable is recorded as a component of prepaid expenses and other current assets on our condensed consolidated balance sheets. We maintain a portfolio of various holdings, types and maturities, though most of the securities in our portfolio could be liquidated at minimal cost at any time. We invest in securities that meet or exceed standards as defined in our investment policy. Our policy also limits the amount of credit exposure to any one issue, issuer or type of security. We review our securities for other-than-temporary impairment at each reporting period. If an unrealized loss for any security is expected, the loss will be recognized on an allowance basis, consistent with ASC 326-30, in our condensed consolidated statement of income in the period the determination is made. (h) Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis. The majority of our inventories are finished goods and we utilize both in-house manufacturing and third-party suppliers to source our products. We periodically evaluate the carrying value of our inventories in relation to our estimated forecast of product demand, which takes into consideration the estimated life cycle of product releases. When quantities on hand exceed estimated sales forecasts, we record a write-down for such excess inventories. Once inventory has been written down, it creates a new cost basis for inventory that is not subsequently written up. During the three months ended June 30, 2020 and 2019, net adjustments to cost of sales related to excess and obsolete inventory were $ 6.5 million and $ 0.3 million, respectively. The net adjustments for the three months ended June 30, 2020 and 2019 reflect a combination of additional expense for excess and obsolete related provisions ($ 8.5 million and $ 3.9 million, respectively) offset by sales and disposals ($ 2.0 million and $ 3.6 million, respectively) of inventory for which an excess and obsolete provision was provided previously through expense recognized in prior periods. During the six months ended June 30, 2020 and 2019, net adjustments to cost of sales related to excess and obsolete inventory were $ 7.2 million and $ 2.5 million, respectively. The net adjustments for the six months ended June 30, 2020 and 2019 reflect a combination of additional expense for excess and obsolete related provisions ($ 10.9 million and $ 6.6 million, respectively) offset by sales and disposals ($ 3.7 million and $ 4.1 million, respectively) of inventory for which an excess and obsolete provision was provided previously through expense recognized in prior periods. (i) Property and Equipment Purchases of property and equipment included in accounts payable and accrued expenses were $ 6.2 million and $ 4.8 million as of June 30, 2020 and 2019, respectively. (j) Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. For purposes of disclosing disaggregated revenue, we disaggregate our revenue into two categories, Musculoskeletal Solutions and Enabling Technologies. Our Musculoskeletal Solutions products consist primarily of the implantable devices, disposables, and unique instruments used in an expansive range of spine, orthopedic trauma, hip, knee and extremity procedures. The majority of our Musculoskeletal Solutions contracts have a single performance obligation and revenue is recognized at a point in time. Our Enabling Technologies products are the advanced hardware and software systems and related technologies that are designed to enhance a surgeon’s capabilities and streamline surgical procedures by making them less invasive, more accurate, and more reproducible to improve patient care. The majority of our Enabling Technologies product contracts typically contain multiple performance obligations, including maintenance and support, and revenue is recognized as we fulfill each performance obligation. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of goods sold. Nature of Products and Services A significant portion of our Musculoskeletal Solutions product revenue is generated from consigned inventory maintained at hospitals or with sales representatives. Revenue from the sale of consigned Musculoskeletal products is recognized when we transfer control, which occurs at the time the product is used or implanted. For all other Musculoskeletal Solutions product transactions, we recognize revenue when we transfer title to the goods, provided there are no remaining performance obligations that will affect the customer’s final acceptance of the sale. We use an observable price to determine the stand-alone selling price for the identified performance obligation. Revenue from the sale of Enabling Technologies products is generally recognized when control transfers to the customer which occurs at the time the product is shipped or delivered. Depending on the terms of the arrangement, we may also defer the recognition of a portion of the consideration received as we have to satisfy a future performance obligation to provide maintenance and support. We use an observable price to determine the stand-alone selling price for each separate performance obligation. Contract Balances Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing. Deferred revenue is comprised mainly of unearned revenue related to the sales of certain Enabling Technologies products, which includes maintenance and support services. Deferred revenue is generally invoiced annually at the beginning of each contract period and recognized ratably over the coverage period. For the three and six months ended June 30, 2020, there was an immaterial amount of revenue recognized from previously deferred revenue. Disaggregation of Revenue The following table represents total sales by revenue stream: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 Musculoskeletal Solutions products $ 143,480 $ 182,538 $ 326,022 $ 358,296 Enabling Technologies products 5,442 12,001 13,477 19,190 Total sales $ 148,922 $ 194,539 $ 339,499 $ 377,486 (k) Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements. (l) Recently Adopted Accounting Pronouncements In February 2016, the FASB released ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). Under ASU 2016-02, a right-of-use asset and lease obligation will be recorded for all leases with terms greater than 12 months, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and permits modified retrospective method or cumulative-effect adjustment method. We adopted the standard on January 1, 2019, using the cumulative-effect adjustment transition method. As part of the adoption, we elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed carry forward of historical lease classifications. The adoption of this standard did not have a material impact on our financial position and results of operations. See “Note 13. Leases” for more detail regarding our disclosures. In February 2018, the FASB released ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) , Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”). Prior to ASU 2018-02, GAAP required the remeasurement of deferred tax assets and liabilities as a result of a change in tax laws or rates to be presented in net income from continuing operations, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income. As a result, such items, referred to as stranded tax effects, did not reflect the appropriate tax rate. Under ASU 2018-02, entities are permitted, but not required, to reclassify from accumulated other comprehensive income to retained earnings those stranded tax effects resulting from the U.S. legislation commonly referred to as the Tax Cuts and Jobs Act enacted in December 2017 . ASU 2018-02 is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-02 on January 1, 2019. Adoption of the standard did not have a material impact on our financial position, results of operations and disclosures. In June 2018, the FASB released ASU 2018-07, Compensation—Stock Compensation (Topic 718) , (“ASU 2018-07”), which expanded the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. ASU 2018-07 specifies that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. This update is effective for public entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-07 on January 1, 2019. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 replaces the incurred loss impairment methodology for measuring and recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This amendment is effective for fiscal years beginning after December 15, 2019. We adopted the updated guidance on January 1, 2020 on a prospective basis recording $ 0.5 million as a cumulative effect adjustment to retained earnings and as a result, prior period amounts were not adjusted. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures. In January 2017, the FASB released ASU 2017-04, Intangibles - Goodwill and Other (Topic 805): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), which eliminates the Step 2 calculation for the implied fair value of goodwill to measure a goodwill impairment charge. Under the updated standard, an entity will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. ASU 2017-04 does not change the guidance on completing Step 1 of the goodwill impairment test and still allows an entity to perform the optional qualitative goodwill impairment assessment before determining whether to proceed to Step 1. This update is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019 with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. We adopted ASU 2017-04 on January 1, 2020. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures. In August 2018, the FASB released ASU 2018-13, Fair Value Measurement (Topic 820) , (“ASU 2018-13”), which modifies the disclosure requirements on fair value measurements in Topic 820, including the consideration of costs and benefits. This update is effective for public entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-13 on January 1, 2020. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures .

ASSET ACQUISITIONS AND BUSINESS

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS	6 Months Ended
	Jun. 30, 2020
ASSET ACQUISITIONS AND BUSINESS COMBINATIONS [Abstract]
Asset Acquisitions And Business Combinations	NOTE 2. ASSET ACQUISITIONS AND BUSINESS COMBINATIONS Asset Acquisitions During the second quarter of 2020, the Company acquired Synoste Oy (“Synoste”), a Finnish engineering company that specializes in the research and development of a limb lengthening system. The fair value of the net assets acquired was $ 25.3 million, and the consideration consisted of approximately $ 22.8 million of cash paid at closing plus $ 2.5 million of a contractual holdback obligation payable eighteen months from the closing date of the transaction, subject to net working capital and other post-closing adjustments, if applicable. The contractual holdback obligation is included in Other Liabilities in the Condensed Consolidated Balance Sheet. The Company accounted for the transaction as an asset acquisition as substantially all of the estimated fair value of the gross assets acquired was concentrated in a single identified asset, in-process research and development (“IPR&D”) of the limb lengthening system, thus satisfying the requirements of the screen test in ASU 2017-1. Acquired IPR&D in the asset acquisition was accounted for in accordance with FASB ASC Topic 730, “Research and Development” (ASC 730). At the date of acquisition, the Company determined that the development of the projects underway at Synoste had not yet reached technological feasibility and that the research in process had no alternative future use. Accordingly, the acquired IPR&D of $ 24.4 million was charged to Research and Development expense in the Condensed Consolidated Statements of Income on the acquisition date. The Company also recorded the remaining immaterial identifiable net assets based on their estimated fair values, which primarily consisted of cash and assembled workforce. The transaction also provides for additional consideration contingent upon the developed product obtaining approval from the U.S. Food and Drug Administration (the “FDA”) of $ 8.0 million within the third anniversary, or $ 4.0 million within the fourth anniversary of the acquisition closing date, respectively. Contingent consideration is not recorded in an asset acquisition until the milestone is met. Business Combinations During the second quarter of 2019, the Company acquired substantially all of the assets of StelKast, Inc. (the “StelKast Acquisition”), a privately held company that designs, manufactures and distributes orthopedic implants for knee and hip replacement surgeries. The Company has included the financial results from the StelKast Acquisition in our condensed financial statements from the acquisition date, and the results from the StelKast Acquisition were not material to our condensed financial statements. At the acquisition date, the fair value of the net assets acquired was $ 28.1 million, which consisted of approximately $ 23.8 million of cash paid at closing, plus a potential $ 4.3 million contingent consideration payment based on product sales milestones. The Company recorded identifiable net assets, based on their estimated fair values, related to inventory of $ 15.3 million, fixed assets of $ 4.2 million and customer relationships of $ 3.9 million and goodwill of $ 4.7 million. As of June 30, 2020, the contingent consideration payable related to this acquisition is $ 5.0 million, which was paid in July 2020.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2020
GOODWILL AND INTANGIBLE ASSETS [Abstract]
Goodwill and Intangible Assets	NOTE 3. GOODWILL AND INTANGIBLE ASSETS A summary of intangible assets is presented below: June 30, 2020 (In thousands) Weighted Average Amortization Period (in years) Gross Carrying Amount Accumulated Amortization Intangible Assets, net Supplier network 10.0 $ 4,000 $ ( 2,267 ) $ 1,733 Customer relationships & other intangibles 7.0 47,703 ( 27,650 ) 20,053 Developed technology 8.0 71,270 ( 14,321 ) 56,949 Patents 16.1 8,798 ( 2,307 ) 6,491 Total intangible assets $ 131,771 $ ( 46,545 ) $ 85,226 Due to the completion of contractual milestones related to the 2018 acquisition of Nemaris, in the first quarter of 2020, $ 13.0 million was capitalized to Developed technology and began to be amortized over a period of 5.4 years. December 31, 2019 (In thousands) Weighted Average Amortization Period (in years) Gross Carrying Amount Accumulated Amortization Intangible Assets, net Supplier network 10.0 4,000 ( 2,067 ) 1,933 Customer relationships & other intangibles 7.0 46,766 ( 24,264 ) 22,502 Developed technology 8.6 57,577 ( 10,189 ) 47,388 Patents 16.0 8,662 ( 1,673 ) 6,989 Total intangible assets $ 117,005 $ ( 38,193 ) $ 78,812 A summary of the net carrying value of goodwill is presented below: (In thousands) December 31, 2018 $ 123,734 Additions and adjustments 4,817 Foreign exchange 224 December 31, 2019 128,775 Additions and adjustments ( 123 ) Foreign exchange 532 June 30, 2020 $ 129,184

MARKETABLE SECURITIES

MARKETABLE SECURITIES	6 Months Ended
	Jun. 30, 2020
MARKETABLE SECURITIES [Abstract]
Marketable Securities	NOTE 4. MARKETABLE SECURITIES The composition of our short-term and long-term marketable securities is as follows: June 30, 2020 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 26,659 $ 220 $ — $ 26,879 Corporate debt securities Less than 1 93,978 909 ( 6 ) 94,881 Commercial paper Less than 1 7,949 44 — 7,993 Asset-backed securities Less than 1 12,240 118 ( 11 ) 12,347 Government, federal agency, and other sovereign obligations Less than 1 8,977 104 — 9,081 Total short-term marketable securities $ 149,803 $ 1,395 $ ( 17 ) $ 151,181 Long-term: Municipal bonds 1 - 3 $ 26,174 $ 475 $ — $ 26,649 Corporate debt securities 1 - 3 134,534 4,017 ( 1 ) 138,550 Asset-backed securities 1 - 3 148,037 2,789 — 150,826 Government, federal agency, and other sovereign obligations 1 - 2 3,399 59 — 3,458 Total long-term marketable securities $ 312,144 $ 7,340 $ ( 1 ) $ 319,483 December 31, 2019 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 7,840 $ 23 $ ( 1 ) $ 7,862 Corporate debt securities Less than 1 69,091 247 ( 3 ) 69,335 Commercial paper Less than 1 34,747 6 ( 1 ) 34,752 Asset-backed securities Less than 1 3,808 6 — 3,814 Total short-term marketable securities $ 115,486 $ 282 $ ( 5 ) $ 115,763 Long-term: Municipal bonds 1 - 3 $ 45,010 $ 254 $ ( 8 ) $ 45,256 Corporate debt securities 1 - 3 186,356 2,578 ( 5 ) 188,929 Asset-backed securities 1 - 3 161,347 1,583 ( 33 ) 162,897 Government, federal agency, and other sovereign obligations 1 - 2 12,366 66 — 12,432 Total long-term marketable securities $ 405,079 $ 4,481 $ ( 46 ) $ 409,514

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2020
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Measurements	NOTE 5. FAIR VALUE MEASUREMENTS Under the accounting for fair value measurements and disclosures, fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or the liability in an orderly transaction between market participants on the measurement date. Additionally, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. The level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Our assets and liabilities measured at fair value on a recurring basis are classified and disclosed in one of the following three categories: Level 1—quoted prices (unadjusted) in active markets for identical assets and liabilities; Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; and Level 3—unobservable inputs in which there is little or no market data available, which require the reporting entity to use significant unobservable inputs or valuation techniques. The fair value of our assets and liabilities measured at fair value on a recurring basis was as follows: (In thousands) Balance at June 30, 2020 Level 1 Level 2 Level 3 Assets Cash equivalents $ 58,863 $ 58,863 $ — $ — Municipal bonds 53,528 — 53,528 — Corporate debt securities 233,431 — 233,431 — Commercial paper 7,993 — 7,993 — Asset-backed securities 163,173 — 163,173 — Government, federal agency, and other sovereign obligations 12,539 — 12,539 — Liabilities Business acquisition liabilities 4,216 — — 4,216 (In thousands) Balance at December 31, 2019 Level 1 Level 2 Level 3 Assets Cash equivalents $ 18,218 $ 4,988 $ 13,230 $ — Municipal bonds 53,118 — 53,118 — Corporate debt securities 258,264 — 258,264 — Commercial paper 34,752 — 34,752 — Asset-backed securities 166,711 — 166,711 — Government, federal agency, and other sovereign obligations 12,432 — 12,432 — Liabilities Business acquisition liabilities 9,549 — — 9,549 Our marketable securities are classified as Level 2 within the fair value hierarchy, as we measure their fair value using market prices for similar instruments and inputs such as actual trade data, benchmark yields, broker/dealer quotes and other similar data obtained from quoted market prices or independent pricing vendors. Assets and Liabilities That Are Measured at Fair Value on a Nonrecurring Basis The purchase price of business acquisitions is primarily allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the excess recorded as goodwill. We utilize Level 3 inputs in the determination of the initial fair value. Non-financial assets such as goodwill, intangible assets, and property, plant, and equipment are subsequently measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment is recognized. We assess the impairment of intangible assets annually or whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. The fair value of our goodwill and intangible assets is not estimated if there is no change in events or circumstances that indicate the carrying amount of an intangible asset may not be recoverable. Contingent consideration represents our contingent milestone, performance and revenue-sharing payment obligations related to our acquisitions and is measured at fair value, based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of contingent consideration uses assumptions we believe would be made by a market participant. We assess these estimates on an ongoing basis as additional data impacting the assumptions is obtained. The balances of the fair value of contingent consideration are recognized within business acquisition liabilities on our condensed consolidated balance sheets, and the changes in the fair value of contingent consideration are recognized within acquisition related costs in the condensed consolidated statements of income. The recurring Level 3 fair value measurements of our business acquisition liabilities include the following significant unobservable inputs, which have not materially changed since December 31, 2019, exclusive of the contractual payable reclassification to Accrued Expenses in the Condensed Consolidated Balance Sheet: (In thousands) Fair Value at June 30, 2020 Valuation technique Unobservable input Range Discount rate 8.5 % Revenue-based payments $ 4,216 Discounted cash flow Probability of payment 75 % - 100 % Projected year of payment 2020 - 2029 The following table provides a reconciliation of the beginning and ending balances of business acquisition liabilities: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 Beginning balance $ 9,489 $ 5,289 $ 9,549 $ 10,118 Purchase price contingent consideration — 4,298 — 4,298 Changes resulting from foreign currency fluctuations — — — ( 58 ) Contingent payments ( 287 ) ( 283 ) ( 853 ) ( 5,633 ) Changes in fair value of business acquisition liabilities ( 43 ) — 463 579 Contractual payable reclassification ( 4,943 ) — ( 4,943 ) — Ending balance $ 4,216 $ 9,304 $ 4,216 $ 9,304

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2020
INVENTORIES [Abstract]
Inventories	NOTE 6. INVENTORIES June 30, December 31, (In thousands) 2020 2019 Raw materials $ 35,208 $ 33,025 Work in process 20,655 15,940 Finished goods 168,594 147,349 Total inventories $ 224,457 $ 196,314

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2020
ACCRUED EXPENSES [Abstract]
Accrued Expenses	NOTE 7. ACCRUED EXPENSES June 30, December 31, (In thousands) 2020 2019 Compensation and other employee-related costs $ 30,224 $ 37,178 Contractual payable (1) 14,943 — Legal and other settlements and expenses 2,258 1,538 Accrued non-income taxes 4,826 4,996 Royalties 1,893 2,370 Other 15,099 17,201 Total accrued expenses $ 69,243 $ 63,283 (1) The contractual payable includes $ 10.0 million related to the Nemaris acquisition milestone payment and $ 4.9 million related to the StelKast acquisition milestone payment, which are recorded in intangible assets and accrued liabilities as a non-cash financing activity on the Condensed Consolidated Statement of Cash Flows as of the six months ended June 30, 2020.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2020
DEBT [Abstract]
Debt	NOTE 8. DEBT Line of Credit In May 2011, we entered into a credit agreement with Wells Fargo Bank related to a revolving credit facility that provides for borrowings up to $ 50.0 million. In June 2018, we amended the credit agreement to increase the revolving credit facility amount from $ 50.0 million to $ 125.0 million. At our request, and with the approval of the bank, the amount of borrowings available under the revolving credit facility can be increased to $ 150.0 million. The revolving credit facility includes up to a $ 25.0 million sub-limit for letters of credit. As amended to date, the revolving credit facility with Wells Fargo Bank expired in May 2020. The Company is currently negotiating and intends to enter into a new credit agreement with another institution in the near term.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Equity	NOTE 9. EQUITY Stock Repurchases Under the current stock repurchase plan, announced on March 11, 2020, the Company is authorized to repurchase up to $ 200 million of the Company’s Class A common stock. As of June 30, 2020, $ 95.3 million of this authorization is remaining. The timing and actual number of shares repurchased will depend on various factors including price, corporate and regulatory requirements, debt covenant requirements, alternative investment opportunities and other market conditions. We continue to expect funding of share repurchases will come from operating cash flows and excess cash. Shares repurchased by the Company are accounted for under the constructive retirement method, in which the shares repurchased, are immediately retired, as there is no plan to reissue. The Company made an accounting policy election to charge the excess of repurchase price over par value entirely to retained earnings. The following table summarizes the activity related to share repurchases: (In thousands except for per share prices) Period Total number of shares repurchased Average Price Paid per Share Dollar amount of shares repurchased (1) Approximate dollar value of shares that may yet be purchased under the plan January 1, 2020 - March 31, 2020 1,920 $ 38.49 $ 73,902 $ 126,098 April 1, 2020 - June 30, 2020 771 39.95 30,804 95,294 January 1, 2020 - June 30, 2020 2,691 $ 38.91 $ 104,706 (1) Inclusive of an immaterial amount of commission fees Common Stock Our amended and restated Certificate of Incorporation provides for a total of 775,000,000 authorized shares of common stock. Of the authorized number of shares of common stock, 500,000,000 shares are designated as Class A common stock (“Class A Common”), and 275,000,000 shares are designated as Class B common stock (“Class B Common”). Each share of our Class B common stock is convertible at any time at the option of the holder into one share of our Class A common stock. In addition, each share of our Class B common stock will convert automatically into one share of our Class A common stock upon any transfer, whether or not for value, except for permitted transfers. For more details relating to the conversion of our Class B common stock please see “ Exhibit 4.2, Description of Securities of the Registrant filed with our amended Form 10-K on March 2, 2020 .” Our issued and outstanding common shares by Class were as follows: (Shares) Class A Common Class B Common Total June 30, 2020 75,326,718 22,430,097 97,756,815 December 31, 2019 77,394,983 22,430,097 99,825,080 Accumulated Other Comprehensive Income (Loss) The tables below present the changes in each component of accumulated other comprehensive income/(loss), including current period other comprehensive income/(loss) and reclassifications out of accumulated other comprehensive income/(loss): (In thousands) Unrealized gain/(loss) on marketable securities, net of tax Foreign currency translation adjustments Accumulated other comprehensive loss Accumulated other comprehensive loss, net of tax, at December 31, 2019 $ 3,599 $ ( 6,497 ) $ ( 2,898 ) Other comprehensive (loss)/income before reclassifications 4,004 1,141 5,145 Amounts reclassified from accumulated other comprehensive income, net of tax ( 949 ) — ( 949 ) Other comprehensive (loss)/income, net of tax 3,055 1,141 4,196 Accumulated other comprehensive loss, net of tax, at June 30, 2020 $ 6,654 $ ( 5,356 ) $ 1,298 (In thousands) Unrealized gain/(loss) on marketable securities, net of tax Foreign currency translation adjustments Accumulated other comprehensive loss Accumulated other comprehensive loss, net of tax, at December 31, 2018 $ ( 168 ) $ ( 7,004 ) $ ( 7,172 ) Other comprehensive (loss)/income before reclassifications 4,947 1,661 6,608 Amounts reclassified from accumulated other comprehensive income, net of tax ( 1,164 ) — ( 1,164 ) Other comprehensive (loss)/income, net of tax 3,783 1,661 5,444 Accumulated other comprehensive loss, net of tax, at June 30, 2019 $ 3,615 $ ( 5,343 ) $ ( 1,728 )

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2020
STOCK-BASED COMPENSATION [Abstract]
Stock-Based Compensation	NOTE 10. STOCK-BASED COMPENSATION We have three stock plans: our Amended and Restated 2003 Stock Plan, our 2008 Stock Plan, and our 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan is the only remaining active stock plan. The purpose of these stock plans was, and the 2012 Plan is, to provide incentive to employees, directors, and consultants of Globus. The Plans are administered by the Board of Directors of Globus (the “Board”) or its delegates. The number, type of option, exercise price, and vesting terms are determined by the Board or its delegates in accordance with the terms of the Plans. The options granted expire on a date specified by the Board, but generally not more than ten years from the grant date. Option grants to employees generally vest in varying installments over a four-year period. The 2012 Plan was approved by our Board in March 2012, and by our stockholders in June 2012. Under the 2012 Plan, the aggregate number of shares of Class A Common stock that may be issued subject to options and other awards is equal to the sum of (i) 3,076,923 shares, (ii) any shares available for issuance under the 2008 Plan as of March 13, 2012, (iii) any shares underlying awards outstanding under the 2008 Plan as of March 13, 2012 that, on or after that date, are forfeited, terminated, expired or lapse for any reason, or are settled for cash without delivery of shares and (iv) starting January 1, 2013, an annual increase in the number of shares available under the 2012 Plan equal to up to 3 % of the number of shares of our common and preferred stock outstanding at the end of the previous year, as determined by our Board. The number of shares that may be issued or transferred pursuant to incentive stock options under the 2012 Plan is limited to 10,769,230 shares. The shares of Class A Common stock issuable under the 2012 Plan include authorized but unissued shares, treasury shares or shares of common stock purchased on the open market. As of June 30, 2020, pursuant to the 2012 Plan, there were 17,899,947 shares of Class A Common stock reserved and 2,135,639 shares of Class A Common stock available for future grants. The weighted average grant date fair value per share of the options awarded to employees were as follows: Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Weighted average grant date fair value per share $ 12.42 $ 13.00 $ 14.29 $ 13.65 Stock option activity during the six months ended June 30, 2020 is summarized as follows: Option Shares (thousands) Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value (thousands) Outstanding at December 31, 2019 10,650 $ 35.80 Granted 1,882 52.31 Exercised ( 624 ) 25.49 Forfeited ( 228 ) 46.05 Outstanding at June 30, 2020 11,680 $ 38.80 7.3 $ 119,873 Exercisable at June 30, 2020 5,616 $ 30.69 6.1 $ 96,839 Expected to vest at June 30, 2020 6,064 $ 46.33 8.5 $ 23,034 The intrinsic value of stock options exercised and the compensation cost related to stock options granted to employees and non-employees under our stock plans was as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 Intrinsic value of stock options exercised $ 12,676 $ 2,260 $ 16,157 $ 10,684 Stock-based compensation expense $ 7,311 $ 6,297 $ 14,118 $ 12,749 Net stock-based compensation capitalized into inventory 115 84 210 175 Total stock-based compensation cost $ 7,426 $ 6,381 $ 14,328 $ 12,924 As of June 30, 2020, there was $ 69.4 million of unrecognized compensation expense related to unvested employee stock options that are expected to vest over a weighted average period of three years .

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
INCOME TAXES [Abstract]
Income Taxes	NOTE 11. INCOME TAXES In computing our income tax provision, we make certain estimates and management judgments, such as estimated annual taxable income or loss, annual effective tax rate, the nature and timing of permanent and temporary differences between taxable income for financial reporting and tax reporting, and the recoverability of deferred tax assets. Our estimates and assumptions may change as new events occur, additional information is obtained, or as the tax environment changes. Should facts and circumstances change during a quarter causing a material change to the estimated effective income tax rate, a cumulative adjustment is recorded. The following table provides a summary of our effective tax rate: Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Effective income tax rate 5.0 % 19.0 % 51.6 % 19.6 % The change in the effective income tax rates for the three and six month periods ended June 30, 2020 and 2019 is primarily a result of the non-tax-deductible expense of acquired IPR&D of $ 24.4 million, and tax benefits due to an increase in stock option exercises in the current year.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
COMMITMENTS AND CONTINGENCIES [Abstract]
Commitments and Contingencies	NOTE 12. COMMITMENTS AND CONTINGENCIES We are involved in a number of proceedings, legal actions, and claims arising in the ordinary course of business. Such matters are subject to many uncertainties, and the outcomes of these matters are not within our control and may not be known for prolonged periods of time. In some actions, the claimants seek damages, as well as other relief, including injunctions prohibiting us from engaging in certain activities, which, if granted, could require significant expenditures and/or result in lost revenues. We record a liability in the condensed consolidated financial statements for these actions when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded. While it is not possible to predict the outcome for most of the matters discussed, we believe it is possible that costs associated with them could have a material adverse impact on our consolidated earnings, financial position or cash flows. L5 Litigation In December 2009, we filed suit in the Court of Common Pleas of Montgomery County, Pennsylvania against our former exclusive independent distributor L5 Surgical, LLC and its principals, seeking an injunction and declaratory judgment concerning certain restrictive covenants made to L5 by its sales representatives. L5 brought counterclaims against us alleging tortious interference, unfair competition and conspiracy. The injunction phase was resolved in September 2010 and the remaining claims were fully resolved through settlement by the parties on February 6, 2019. Moskowitz Family LLC Litigation On November 20, 2019, Moskowitz Family LLC filed suit against us in the U.S. District Court for the Western District of Texas for patent infringement. Moskowitz, a non-practicing entity, alleges that Globus willfully infringes one or more claims of eight patents by making, using, offering for sale or selling the COALITION ® , COALITION MIS ® , COALITION AGX ® , MONUMENT ® , MAGNIFY ® -S, HEDRON IA TM , HEDRON IC TM , INDEPENDENCE ® , INDEPENDENCE MIS ® , FORTIFY ® and XPAND ® families, SABLE TM , RISE ® , RISE ® INTRALIF, RISE ® -L, ELSA ® , ELSA ® ATP, RASS, ALTERA ® , ARIEL ® , LATIS ® , CALIBER ® and CALIBER ® -L products. Moskowitz seeks an unspecified amount in damages and injunctive relief. The probable outcome of this litigation cannot be determined, nor can we estimate a range of potential loss. Therefore, in accordance with authoritative guidance on the evaluation of loss contingencies, we have not recorded an accrual related to this litigation.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2020
LEASES [Abstract]
Leases	NOTE 13. LEASES The Company leases certain equipment, vehicles, and facilities under operating leases. Certain leases contain options to extend terms beyond the lease termination date. In these leases, we use judgment to determine whether it is reasonably possible that we will extend the lease beyond the initial term and for how long. Leases that have terms of less than 12 months are treated as short-term and are not recognized as right of use assets or lease liabilities. As most leases do not provide an implicit rate, we use an incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. As of June 30, 2020, the Company’s short-term lease commitments and sublease income are immaterial. The Company classifies right-of-use assets as Other assets, short-term lease liabilities as Accrued expenses, and long-term lease liabilities as Other liabilities on the Condensed Consolidated Balance Sheet. Lease expense is recognized, on a straight-line basis over the term of the lease, as a component of operating income on the Consolidated Statement of Income. Amounts reported in the Condensed Consolidated Balance Sheet as of the six months ended June 30, 2020 were as follows: (In thousands, except weighted average lease term and discount rate) Operating leases: Right of use assets $ 4,044 Lease liability - short term 1,720 Lease liability - long term 2,324 Total operating lease liability $ 4,044 Lease expense as of June 30, 2020 $ 1,748 Weighted-average remaining lease term - operating leases (in years) 3.1 Weighted-average discount rate 3.2 % Future minimum lease payments under non-cancellable leases as of the quarter ended June 30, 2020 are as follows: (In thousands) Operating Leases 2020 (excluding the six months ended June 30, 2020) $ 1,083 2021 1,272 2022 1,031 2023 534 2024 384 Thereafter 75 Total undiscounted leases payments $ 4,379 Less: imputed interest 335 Total lease liabilities $ 4,044

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	6 Months Ended
	Jun. 30, 2020
SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]
Segment and Geographic Information	NOTE 14. SEGMENT AND GEOGRAPHIC INFORMATION Operating segments are defined as components of an enterprise for which separate discrete financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. We globally manage the business within one operating segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. The following table represents total sales by geographic area, based on the location of the customer: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 United States $ 125,154 $ 159,989 $ 283,601 $ 307,527 International 23,768 34,550 55,898 69,959 Total sales $ 148,922 $ 194,539 $ 339,499 $ 377,486

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2020
SUBSEQUENT EVENT [Abstract]
Subsequent Event	NOTE 15. SUBSEQUENT EVENT Product Recall On July 22, 2020, the Company initiated a voluntary Class II recall of specific lots of ALTERA® Spacers. This recall was initiated because specific lots of ALTERA® implants have internal components that were manufactured using stainless steel rather than the specified cobalt chromium molybdenum alloy. Only devices made after February 12, 2020 from specific lots are affected, and some parts in some lots may not be affected. No reports of adverse reactions related to the stainless steel components have been received to date. A recall notification has been issued to all relevant parties and Globus is in the process of collecting and replacing all impacted inventory. It is expected to take approximately 8 weeks to fully replace the affected inventory. Production has already been increased to meet the demand. The Company recorded an accrual in the second quarter of approximately $ 1.3 million in costs associated with this recall with a majority charged to Cost of Goods Sold in the Condensed Consolidated Statements of Income. The Company will continue to evaluate any further impact as additional information becomes available.

BACKGROUND AND SUMMARY OF SIG_2

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	6 Months Ended
	Jun. 30, 2020
BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in complete financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2019. In the opinion of management, the statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position and of the results for the three and six month periods presented. The results of operations for any interim period are not indicative of results for the full year.
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Globus and its wholly-owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates, in part, on historical experience that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the condensed consolidated financial statements in the period they are determined to be necessary. Significant areas that require management’s estimates include intangible assets, business acquisition liabilities, stock-based compensation, write-down for excess and obsolete inventory, useful lives of assets, the outcome of litigation, recoverability of intangible assets and income taxes. We are subject to risks and uncertainties due to changes in the healthcare environment, regulatory oversight, competition, and legislation that may cause actual results to differ from estimated results.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows June 30, December 31, June 30, December 31, (In thousands) 2020 2019 2019 2018 Cash and cash equivalents $ 165,554 $ 195,474 $ 117,790 $ 139,647 Restricted cash — 250 — 100 Total cash, cash equivalents, and restricted cash as presented in the condensed consolidated statement of cash flows $ 165,554 $ 195,724 $ 117,790 $ 139,747
Marketable Securities	Marketable Securities Our marketable securities include municipal bonds, corporate debt securities, commercial paper, securities of government, federal agency, and other sovereign obligations, and asset-backed securities, and are classified as available-for-sale as of June 30, 2020 and December 31, 2019. Available-for-sale securities are recorded at fair value in both short-term and long-term marketable securities on our condensed consolidated balance sheets. The change in fair value for available-for-sale securities, that do not result in recognition or reversal of an allowance for credit loss or write-down, is recorded, net of taxes, as a component of accumulated other comprehensive income or loss on our condensed consolidated balance sheets. Premiums and discounts are recognized over the life of the related security as an adjustment to yield using the straight-line method. Realized gains or losses from the sale of our marketable securities are determined on a specific identification basis. Realized gains and losses, along with interest income and the amortization/accretion of premiums/discounts are included as a component of other income/(expense), on our condensed consolidated statements of income. Interest receivable is recorded as a component of prepaid expenses and other current assets on our condensed consolidated balance sheets. We maintain a portfolio of various holdings, types and maturities, though most of the securities in our portfolio could be liquidated at minimal cost at any time. We invest in securities that meet or exceed standards as defined in our investment policy. Our policy also limits the amount of credit exposure to any one issue, issuer or type of security. We review our securities for other-than-temporary impairment at each reporting period. If an unrealized loss for any security is expected, the loss will be recognized on an allowance basis, consistent with ASC 326-30, in our condensed consolidated statement of income in the period the determination is made.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis. The majority of our inventories are finished goods and we utilize both in-house manufacturing and third-party suppliers to source our products. We periodically evaluate the carrying value of our inventories in relation to our estimated forecast of product demand, which takes into consideration the estimated life cycle of product releases. When quantities on hand exceed estimated sales forecasts, we record a write-down for such excess inventories. Once inventory has been written down, it creates a new cost basis for inventory that is not subsequently written up. During the three months ended June 30, 2020 and 2019, net adjustments to cost of sales related to excess and obsolete inventory were $ 6.5 million and $ 0.3 million, respectively. The net adjustments for the three months ended June 30, 2020 and 2019 reflect a combination of additional expense for excess and obsolete related provisions ($ 8.5 million and $ 3.9 million, respectively) offset by sales and disposals ($ 2.0 million and $ 3.6 million, respectively) of inventory for which an excess and obsolete provision was provided previously through expense recognized in prior periods. During the six months ended June 30, 2020 and 2019, net adjustments to cost of sales related to excess and obsolete inventory were $ 7.2 million and $ 2.5 million, respectively. The net adjustments for the six months ended June 30, 2020 and 2019 reflect a combination of additional expense for excess and obsolete related provisions ($ 10.9 million and $ 6.6 million, respectively) offset by sales and disposals ($ 3.7 million and $ 4.1 million, respectively) of inventory for which an excess and obsolete provision was provided previously through expense recognized in prior periods.
Property and Equipment	Property and Equipment Purchases of property and equipment included in accounts payable and accrued expenses were $ 6.2 million and $ 4.8 million as of June 30, 2020 and 2019, respectively.
Revenue Recognition	Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. For purposes of disclosing disaggregated revenue, we disaggregate our revenue into two categories, Musculoskeletal Solutions and Enabling Technologies. Our Musculoskeletal Solutions products consist primarily of the implantable devices, disposables, and unique instruments used in an expansive range of spine, orthopedic trauma, hip, knee and extremity procedures. The majority of our Musculoskeletal Solutions contracts have a single performance obligation and revenue is recognized at a point in time. Our Enabling Technologies products are the advanced hardware and software systems and related technologies that are designed to enhance a surgeon’s capabilities and streamline surgical procedures by making them less invasive, more accurate, and more reproducible to improve patient care. The majority of our Enabling Technologies product contracts typically contain multiple performance obligations, including maintenance and support, and revenue is recognized as we fulfill each performance obligation. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of goods sold. Nature of Products and Services A significant portion of our Musculoskeletal Solutions product revenue is generated from consigned inventory maintained at hospitals or with sales representatives. Revenue from the sale of consigned Musculoskeletal products is recognized when we transfer control, which occurs at the time the product is used or implanted. For all other Musculoskeletal Solutions product transactions, we recognize revenue when we transfer title to the goods, provided there are no remaining performance obligations that will affect the customer’s final acceptance of the sale. We use an observable price to determine the stand-alone selling price for the identified performance obligation. Revenue from the sale of Enabling Technologies products is generally recognized when control transfers to the customer which occurs at the time the product is shipped or delivered. Depending on the terms of the arrangement, we may also defer the recognition of a portion of the consideration received as we have to satisfy a future performance obligation to provide maintenance and support. We use an observable price to determine the stand-alone selling price for each separate performance obligation. Contract Balances Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing. Deferred revenue is comprised mainly of unearned revenue related to the sales of certain Enabling Technologies products, which includes maintenance and support services. Deferred revenue is generally invoiced annually at the beginning of each contract period and recognized ratably over the coverage period. For the three and six months ended June 30, 2020, there was an immaterial amount of revenue recognized from previously deferred revenue. Disaggregation of Revenue The following table represents total sales by revenue stream: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 Musculoskeletal Solutions products $ 143,480 $ 182,538 $ 326,022 $ 358,296 Enabling Technologies products 5,442 12,001 13,477 19,190 Total sales $ 148,922 $ 194,539 $ 339,499 $ 377,486
Recently Issued Accounting Pronouncements & Recently Adopted Accounting Pronouncements	(k) Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements. (l) Recently Adopted Accounting Pronouncements In February 2016, the FASB released ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). Under ASU 2016-02, a right-of-use asset and lease obligation will be recorded for all leases with terms greater than 12 months, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and permits modified retrospective method or cumulative-effect adjustment method. We adopted the standard on January 1, 2019, using the cumulative-effect adjustment transition method. As part of the adoption, we elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed carry forward of historical lease classifications. The adoption of this standard did not have a material impact on our financial position and results of operations. See “Note 13. Leases” for more detail regarding our disclosures. In February 2018, the FASB released ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) , Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”). Prior to ASU 2018-02, GAAP required the remeasurement of deferred tax assets and liabilities as a result of a change in tax laws or rates to be presented in net income from continuing operations, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income. As a result, such items, referred to as stranded tax effects, did not reflect the appropriate tax rate. Under ASU 2018-02, entities are permitted, but not required, to reclassify from accumulated other comprehensive income to retained earnings those stranded tax effects resulting from the U.S. legislation commonly referred to as the Tax Cuts and Jobs Act enacted in December 2017 . ASU 2018-02 is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-02 on January 1, 2019. Adoption of the standard did not have a material impact on our financial position, results of operations and disclosures. In June 2018, the FASB released ASU 2018-07, Compensation—Stock Compensation (Topic 718) , (“ASU 2018-07”), which expanded the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. ASU 2018-07 specifies that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. This update is effective for public entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-07 on January 1, 2019. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 replaces the incurred loss impairment methodology for measuring and recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This amendment is effective for fiscal years beginning after December 15, 2019. We adopted the updated guidance on January 1, 2020 on a prospective basis recording $ 0.5 million as a cumulative effect adjustment to retained earnings and as a result, prior period amounts were not adjusted. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures. In January 2017, the FASB released ASU 2017-04, Intangibles - Goodwill and Other (Topic 805): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), which eliminates the Step 2 calculation for the implied fair value of goodwill to measure a goodwill impairment charge. Under the updated standard, an entity will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. ASU 2017-04 does not change the guidance on completing Step 1 of the goodwill impairment test and still allows an entity to perform the optional qualitative goodwill impairment assessment before determining whether to proceed to Step 1. This update is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019 with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. We adopted ASU 2017-04 on January 1, 2020. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures. In August 2018, the FASB released ASU 2018-13, Fair Value Measurement (Topic 820) , (“ASU 2018-13”), which modifies the disclosure requirements on fair value measurements in Topic 820, including the consideration of costs and benefits. This update is effective for public entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2018-13 on January 1, 2020. Adoption of the standard did not have a material impact on our financial position, results of operations, and disclosures

BACKGROUND AND SUMMARY OF SIG_3

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2020
BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Summary of Cash, Cash Equivalents, and Restricted Cash	June 30, December 31, June 30, December 31, (In thousands) 2020 2019 2019 2018 Cash and cash equivalents $ 165,554 $ 195,474 $ 117,790 $ 139,647 Restricted cash — 250 — 100 Total cash, cash equivalents, and restricted cash as presented in the condensed consolidated statement of cash flows $ 165,554 $ 195,724 $ 117,790 $ 139,747
Schedule of Disaggregation of Revenue	Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 Musculoskeletal Solutions products $ 143,480 $ 182,538 $ 326,022 $ 358,296 Enabling Technologies products 5,442 12,001 13,477 19,190 Total sales $ 148,922 $ 194,539 $ 339,499 $ 377,486

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2020
GOODWILL AND INTANGIBLE ASSETS [Abstract]
Summary of Intangible Assets	A summary of intangible assets is presented below: June 30, 2020 (In thousands) Weighted Average Amortization Period (in years) Gross Carrying Amount Accumulated Amortization Intangible Assets, net Supplier network 10.0 $ 4,000 $ ( 2,267 ) $ 1,733 Customer relationships & other intangibles 7.0 47,703 ( 27,650 ) 20,053 Developed technology 8.0 71,270 ( 14,321 ) 56,949 Patents 16.1 8,798 ( 2,307 ) 6,491 Total intangible assets $ 131,771 $ ( 46,545 ) $ 85,226 Due to the completion of contractual milestones related to the 2018 acquisition of Nemaris, in the first quarter of 2020, $ 13.0 million was capitalized to Developed technology and began to be amortized over a period of 5.4 years. December 31, 2019 (In thousands) Weighted Average Amortization Period (in years) Gross Carrying Amount Accumulated Amortization Intangible Assets, net Supplier network 10.0 4,000 ( 2,067 ) 1,933 Customer relationships & other intangibles 7.0 46,766 ( 24,264 ) 22,502 Developed technology 8.6 57,577 ( 10,189 ) 47,388 Patents 16.0 8,662 ( 1,673 ) 6,989 Total intangible assets $ 117,005 $ ( 38,193 ) $ 78,812
Summary of Goodwill	(In thousands) December 31, 2018 $ 123,734 Additions and adjustments 4,817 Foreign exchange 224 December 31, 2019 128,775 Additions and adjustments ( 123 ) Foreign exchange 532 June 30, 2020 $ 129,184

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2020
MARKETABLE SECURITIES [Abstract]
Composition of Marketable Securities	The composition of our short-term and long-term marketable securities is as follows: June 30, 2020 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 26,659 $ 220 $ — $ 26,879 Corporate debt securities Less than 1 93,978 909 ( 6 ) 94,881 Commercial paper Less than 1 7,949 44 — 7,993 Asset-backed securities Less than 1 12,240 118 ( 11 ) 12,347 Government, federal agency, and other sovereign obligations Less than 1 8,977 104 — 9,081 Total short-term marketable securities $ 149,803 $ 1,395 $ ( 17 ) $ 151,181 Long-term: Municipal bonds 1 - 3 $ 26,174 $ 475 $ — $ 26,649 Corporate debt securities 1 - 3 134,534 4,017 ( 1 ) 138,550 Asset-backed securities 1 - 3 148,037 2,789 — 150,826 Government, federal agency, and other sovereign obligations 1 - 2 3,399 59 — 3,458 Total long-term marketable securities $ 312,144 $ 7,340 $ ( 1 ) $ 319,483 December 31, 2019 (In thousands) Contractual Maturity (in years) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term: Municipal bonds Less than 1 $ 7,840 $ 23 $ ( 1 ) $ 7,862 Corporate debt securities Less than 1 69,091 247 ( 3 ) 69,335 Commercial paper Less than 1 34,747 6 ( 1 ) 34,752 Asset-backed securities Less than 1 3,808 6 — 3,814 Total short-term marketable securities $ 115,486 $ 282 $ ( 5 ) $ 115,763 Long-term: Municipal bonds 1 - 3 $ 45,010 $ 254 $ ( 8 ) $ 45,256 Corporate debt securities 1 - 3 186,356 2,578 ( 5 ) 188,929 Asset-backed securities 1 - 3 161,347 1,583 ( 33 ) 162,897 Government, federal agency, and other sovereign obligations 1 - 2 12,366 66 — 12,432 Total long-term marketable securities $ 405,079 $ 4,481 $ ( 46 ) $ 409,514

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value of Assets and Liabilities Measured on Recurring Basis	(In thousands) Balance at June 30, 2020 Level 1 Level 2 Level 3 Assets Cash equivalents $ 58,863 $ 58,863 $ — $ — Municipal bonds 53,528 — 53,528 — Corporate debt securities 233,431 — 233,431 — Commercial paper 7,993 — 7,993 — Asset-backed securities 163,173 — 163,173 — Government, federal agency, and other sovereign obligations 12,539 — 12,539 — Liabilities Business acquisition liabilities 4,216 — — 4,216 (In thousands) Balance at December 31, 2019 Level 1 Level 2 Level 3 Assets Cash equivalents $ 18,218 $ 4,988 $ 13,230 $ — Municipal bonds 53,118 — 53,118 — Corporate debt securities 258,264 — 258,264 — Commercial paper 34,752 — 34,752 — Asset-backed securities 166,711 — 166,711 — Government, federal agency, and other sovereign obligations 12,432 — 12,432 — Liabilities Business acquisition liabilities 9,549 — — 9,549
Recurring Level 3 Fair Value Measurements	(In thousands) Fair Value at June 30, 2020 Valuation technique Unobservable input Range Discount rate 8.5 % Revenue-based payments $ 4,216 Discounted cash flow Probability of payment 75 % - 100 % Projected year of payment 2020 - 2029
Rollforward of Contingent Consideration	The following table provides a reconciliation of the beginning and ending balances of business acquisition liabilities: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 Beginning balance $ 9,489 $ 5,289 $ 9,549 $ 10,118 Purchase price contingent consideration — 4,298 — 4,298 Changes resulting from foreign currency fluctuations — — — ( 58 ) Contingent payments ( 287 ) ( 283 ) ( 853 ) ( 5,633 ) Changes in fair value of business acquisition liabilities ( 43 ) — 463 579 Contractual payable reclassification ( 4,943 ) — ( 4,943 ) — Ending balance $ 4,216 $ 9,304 $ 4,216 $ 9,304

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2020
INVENTORIES [Abstract]
Schedule of Inventory	June 30, December 31, (In thousands) 2020 2019 Raw materials $ 35,208 $ 33,025 Work in process 20,655 15,940 Finished goods 168,594 147,349 Total inventories $ 224,457 $ 196,314

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2020
ACCRUED EXPENSES [Abstract]
Schedule of Accrued Expenses	June 30, December 31, (In thousands) 2020 2019 Compensation and other employee-related costs $ 30,224 $ 37,178 Contractual payable (1) 14,943 — Legal and other settlements and expenses 2,258 1,538 Accrued non-income taxes 4,826 4,996 Royalties 1,893 2,370 Other 15,099 17,201 Total accrued expenses $ 69,243 $ 63,283 (1) The contractual payable includes $ 10.0 million related to the Nemaris acquisition milestone payment and $ 4.9 million related to the StelKast acquisition milestone payment, which are recorded in intangible assets and accrued liabilities as a non-cash financing activity on the Condensed Consolidated Statement of Cash Flows as of the six months ended June 30, 2020.

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Shares Repurchased	(In thousands except for per share prices) Period Total number of shares repurchased Average Price Paid per Share Dollar amount of shares repurchased (1) Approximate dollar value of shares that may yet be purchased under the plan January 1, 2020 - March 31, 2020 1,920 $ 38.49 $ 73,902 $ 126,098 April 1, 2020 - June 30, 2020 771 39.95 30,804 95,294 January 1, 2020 - June 30, 2020 2,691 $ 38.91 $ 104,706 (1) Inclusive of an immaterial amount of commission fees
Schedule of Issued and Outstanding Shares by Class	(Shares) Class A Common Class B Common Total June 30, 2020 75,326,718 22,430,097 97,756,815 December 31, 2019 77,394,983 22,430,097 99,825,080
Accumulated Other Comprehensive Income	(In thousands) Unrealized gain/(loss) on marketable securities, net of tax Foreign currency translation adjustments Accumulated other comprehensive loss Accumulated other comprehensive loss, net of tax, at December 31, 2019 $ 3,599 $ ( 6,497 ) $ ( 2,898 ) Other comprehensive (loss)/income before reclassifications 4,004 1,141 5,145 Amounts reclassified from accumulated other comprehensive income, net of tax ( 949 ) — ( 949 ) Other comprehensive (loss)/income, net of tax 3,055 1,141 4,196 Accumulated other comprehensive loss, net of tax, at June 30, 2020 $ 6,654 $ ( 5,356 ) $ 1,298 (In thousands) Unrealized gain/(loss) on marketable securities, net of tax Foreign currency translation adjustments Accumulated other comprehensive loss Accumulated other comprehensive loss, net of tax, at December 31, 2018 $ ( 168 ) $ ( 7,004 ) $ ( 7,172 ) Other comprehensive (loss)/income before reclassifications 4,947 1,661 6,608 Amounts reclassified from accumulated other comprehensive income, net of tax ( 1,164 ) — ( 1,164 ) Other comprehensive (loss)/income, net of tax 3,783 1,661 5,444 Accumulated other comprehensive loss, net of tax, at June 30, 2019 $ 3,615 $ ( 5,343 ) $ ( 1,728 )

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2020
STOCK-BASED COMPENSATION [Abstract]
Grant Date Fair Values of Options Awarded to Employees	The weighted average grant date fair value per share of the options awarded to employees were as follows: Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Weighted average grant date fair value per share $ 12.42 $ 13.00 $ 14.29 $ 13.65
Summary of Stock Option Activity	Stock option activity during the six months ended June 30, 2020 is summarized as follows: Option Shares (thousands) Weighted average exercise price Weighted average remaining contractual life (years) Aggregate intrinsic value (thousands) Outstanding at December 31, 2019 10,650 $ 35.80 Granted 1,882 52.31 Exercised ( 624 ) 25.49 Forfeited ( 228 ) 46.05 Outstanding at June 30, 2020 11,680 $ 38.80 7.3 $ 119,873 Exercisable at June 30, 2020 5,616 $ 30.69 6.1 $ 96,839 Expected to vest at June 30, 2020 6,064 $ 46.33 8.5 $ 23,034
Intrinsic Value and Stock-based Compensation Schedule	The intrinsic value of stock options exercised and the compensation cost related to stock options granted to employees and non-employees under our stock plans was as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 Intrinsic value of stock options exercised $ 12,676 $ 2,260 $ 16,157 $ 10,684 Stock-based compensation expense $ 7,311 $ 6,297 $ 14,118 $ 12,749 Net stock-based compensation capitalized into inventory 115 84 210 175 Total stock-based compensation cost $ 7,426 $ 6,381 $ 14,328 $ 12,924

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2020
INCOME TAXES [Abstract]
Summary of Effective income tax rate	Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Effective income tax rate 5.0 % 19.0 % 51.6 % 19.6 %

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2020
LEASES [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Amounts reported in the Condensed Consolidated Balance Sheet as of the six months ended June 30, 2020 were as follows: (In thousands, except weighted average lease term and discount rate) Operating leases: Right of use assets $ 4,044 Lease liability - short term 1,720 Lease liability - long term 2,324 Total operating lease liability $ 4,044 Lease expense as of June 30, 2020 $ 1,748 Weighted-average remaining lease term - operating leases (in years) 3.1 Weighted-average discount rate 3.2 %
Future Minimum Lease Payments	Future minimum lease payments under non-cancellable leases as of the quarter ended June 30, 2020 are as follows: (In thousands) Operating Leases 2020 (excluding the six months ended June 30, 2020) $ 1,083 2021 1,272 2022 1,031 2023 534 2024 384 Thereafter 75 Total undiscounted leases payments $ 4,379 Less: imputed interest 335 Total lease liabilities $ 4,044

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2020
SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]
Schedule of Total Sales by Geographical Area	Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2020 2019 2020 2019 United States $ 125,154 $ 159,989 $ 283,601 $ 307,527 International 23,768 34,550 55,898 69,959 Total sales $ 148,922 $ 194,539 $ 339,499 $ 377,486

BACKGROUND AND SUMMARY OF SIG_4

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)item	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)item	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Inventory Sales and Disposals related Provisions	$ 2,000	$ 3,600	$ 3,700	$ 4,100
Excess and Obsolete related Provisions	8,500	3,900	10,900	6,600
Net Adjustment to Cost of Sales Related to Excess and Obsolete Inventory	$ 6,500	$ 300	7,200	2,500
Capital Expenditures Incurred but Not yet Paid			$ 6,200	$ 4,800
Cumulative effect of adoption of accounting standards					$ 468
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Number Of Products Launched Since Inception | item	210		210

BACKGROUND AND SUMMARY OF SIG_5

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Summary of Cash, Cash Equivalents, and Restricted Cash) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Cash and cash equivalents	$ 165,554	$ 195,474	$ 117,790	$ 139,647
Restricted cash		250		100
Total cash, cash equivalents, and restricted cash as presented in the condensed consolidated statement of cash flows	$ 165,554	$ 195,724	$ 117,790	$ 139,747

BACKGROUND AND SUMMARY OF SIG_6

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 148,922	$ 194,539	$ 339,499	$ 377,486
Musculoskeletal Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	143,480	182,538	326,022	358,296
Enabling Technologies [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 5,442	$ 12,001	$ 13,477	$ 19,190

ASSET ACQUISITIONS AND BUSINE_2

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Business Acquisition [Line Items]
Acquired in-process research and development	$ 24,400		$ 24,418
Synoste Acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	25,300		$ 25,300
Payments to Acquire Businesses, Gross	22,800
Business Acquisitions, Contractual Holdback Obligation Payable Period			18 months
Acquired in-process research and development			$ 24,400
Business Combination, Consideration Transferred, Liabilities Incurred	2,500
Synoste Acquisition [Member] | Third Anniversary [Member]
Business Acquisition [Line Items]
Contingent consideration	8,000		8,000
Synoste Acquisition [Member] | Fourth Anniversary [Member]
Business Acquisition [Line Items]
Contingent consideration	4,000		4,000
StelKast Acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		$ 15,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		4,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		3,900
Payments to Acquire Businesses, Gross		23,800
Goodwill, Acquired During Period		4,700
Business Combination, Consideration Transferred		28,100
Contingent consideration	$ 5,000	$ 4,300	$ 5,000

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets, Period Increase (Decrease)	$ 13
Weighted average amortization period		8 years	8 years 7 months 6 days
In Process Research and Development [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	5 years 4 months 24 days

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS (Summary of Intangible Assets) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 131,771	$ 117,005
Accumulated amortization	(46,545)	(38,193)
Intangible Assets, net	$ 85,226	$ 78,812
Supplier Network [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	10 years	10 years
Gross Carrying Amount	$ 4,000	$ 4,000
Accumulated amortization	(2,267)	(2,067)
Intangible Assets, net	$ 1,733	$ 1,933
Customer Relationships & Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	7 years	7 years
Gross Carrying Amount	$ 47,703	$ 46,766
Accumulated amortization	(27,650)	(24,264)
Intangible Assets, net	$ 20,053	$ 22,502
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	8 years	8 years 7 months 6 days
Gross Carrying Amount	$ 71,270	$ 57,577
Accumulated amortization	(14,321)	(10,189)
Intangible Assets, net	$ 56,949	$ 47,388
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	16 years 1 month 6 days	16 years
Gross Carrying Amount	$ 8,798	$ 8,662
Accumulated amortization	(2,307)	(1,673)
Intangible Assets, net	$ 6,491	$ 6,989

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS (Summary of Goodwill) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
GOODWILL AND INTANGIBLE ASSETS [Abstract]
Goodwill, Beginning Balance	$ 128,775	$ 123,734
Additions and adjustments	(123)	4,817
Foreign exchange	532	224
Goodwill, Ending Balance	$ 129,184	$ 128,775

MARKETABLE SECURITIES (Composit

MARKETABLE SECURITIES (Composition of Marketable Securities) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Short-term Investments [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 149,803	$ 115,486
Gross Unrealized Gains	1,395	282
Gross Unrealized Loss	(17)	(5)
Fair Value	151,181	115,763
Short-term Investments [Member] | Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	26,659	7,840
Gross Unrealized Gains	220	23
Gross Unrealized Loss		(1)
Fair Value	$ 26,879	$ 7,862
Short-term Investments [Member] | Municipal Bonds [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] | Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 93,978	$ 69,091
Gross Unrealized Gains	909	247
Gross Unrealized Loss	(6)	(3)
Fair Value	$ 94,881	$ 69,335
Short-term Investments [Member] | Corporate Debt Securities [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] | Commercial Paper [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 7,949	$ 34,747
Gross Unrealized Gains	44	6
Gross Unrealized Loss		(1)
Fair Value	$ 7,993	$ 34,752
Short-term Investments [Member] | Commercial Paper [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] | Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 12,240	$ 3,808
Gross Unrealized Gains	118	6
Gross Unrealized Loss	(11)
Fair Value	$ 12,347	$ 3,814
Short-term Investments [Member] | Asset-backed Securities [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Short-term Investments [Member] | Government, Federal Agency, And Other Sovereign Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 8,977
Gross Unrealized Gains	104
Fair Value	$ 9,081
Short-term Investments [Member] | Government, Federal Agency, And Other Sovereign Obligations [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year
Other Long-term Investments [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 312,144	$ 405,079
Gross Unrealized Gains	7,340	4,481
Gross Unrealized Loss	(1)	(46)
Fair Value	319,483	409,514
Other Long-term Investments [Member] | Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	26,174	45,010
Gross Unrealized Gains	475	254
Gross Unrealized Loss		(8)
Fair Value	$ 26,649	$ 45,256
Other Long-term Investments [Member] | Municipal Bonds [Member] | Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] | Municipal Bonds [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	3 years	3 years
Other Long-term Investments [Member] | Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 134,534	$ 186,356
Gross Unrealized Gains	4,017	2,578
Gross Unrealized Loss	(1)	(5)
Fair Value	$ 138,550	$ 188,929
Other Long-term Investments [Member] | Corporate Debt Securities [Member] | Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] | Corporate Debt Securities [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	3 years	3 years
Other Long-term Investments [Member] | Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 148,037	$ 161,347
Gross Unrealized Gains	2,789	1,583
Gross Unrealized Loss		(33)
Fair Value	$ 150,826	$ 162,897
Other Long-term Investments [Member] | Asset-backed Securities [Member] | Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] | Asset-backed Securities [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	3 years	3 years
Other Long-term Investments [Member] | Government, Federal Agency, And Other Sovereign Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 3,399	$ 12,366
Gross Unrealized Gains	59	66
Fair Value	$ 3,458	$ 12,432
Other Long-term Investments [Member] | Government, Federal Agency, And Other Sovereign Obligations [Member] | Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	1 year	1 year
Other Long-term Investments [Member] | Government, Federal Agency, And Other Sovereign Obligations [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual Maturity	2 years	2 years

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business acquisition liabilities	$ 4,216	$ 9,489	$ 9,549	$ 9,304	$ 5,289	$ 10,118
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	58,863		18,218
Business acquisition liabilities	4,216		9,549
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	53,528		53,118
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	233,431		258,264
Fair Value, Measurements, Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	7,993		34,752
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	163,173		166,711
Fair Value, Measurements, Recurring [Member] | Government, Federal Agency, And Other Sovereign Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	12,539		12,432
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	58,863		4,988
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents			13,230
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	53,528		53,118
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	233,431		258,264
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	7,993		34,752
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	163,173		166,711
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Government, Federal Agency, And Other Sovereign Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	12,539		12,432
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business acquisition liabilities	$ 4,216		$ 9,549

FAIR VALUE MEASUREMENTS (Recurr

FAIR VALUE MEASUREMENTS (Recurring Level 3 Fair Value Measurements) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business acquisition liabilities	$ 4,216	$ 9,489	$ 9,549	$ 9,304	$ 5,289	$ 10,118
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Probability of payment	100.00%
Projected year of payment	2029
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Probability of payment	75.00%
Projected year of payment	2020
Measurement Input, Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate	8.5
Measurement Input, Discount Rate [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate	8.5

FAIR VALUE MEASUREMENTS (Rollfo

FAIR VALUE MEASUREMENTS (Rollforward of Contingent Consideration) (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business acquisition liabilities, beginning balance	$ 9,489	$ 5,289	$ 9,549	$ 10,118
Purchase price contingent consideration		4,298		4,298
Changes resulting from foreign currency fluctuations				(58)
Contingent payments	(287)	(283)	(853)	(5,633)
Changes in fair value of business acquisition liabilities	(43)		463	579
Contractual payable reclassification	(4,943)		(4,943)
Business acquisition liabilities, ending balance	$ 4,216	$ 9,304	$ 4,216	$ 9,304

INVENTORIES (Schedule of Invent

INVENTORIES (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
INVENTORIES [Abstract]
Raw materials	$ 35,208	$ 33,025
Work in process	20,655	15,940
Finished goods	168,594	147,349
Total inventories	$ 224,457	$ 196,314

ACCRUED EXPENSES (Schedule of A

ACCRUED EXPENSES (Schedule of Accrued Expenses) (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Compensation and other employee-related costs		$ 30,224	$ 37,178
Contractual payable	[1]	14,943
Legal and other settlements and expenses		2,258	1,538
Accrued non-income taxes		4,826	4,996
Royalties		1,893	2,370
Other		15,099	17,201
Total accrued expenses		69,243	$ 63,283
Nemaris [Member]
Business Acquisition [Line Items]
Contractual payable		10,000
StelKast Acquisition [Member]
Business Acquisition [Line Items]
Contractual payable		$ 4,900
[1]	The contractual payable includes $ 10.0 million related to the Nemaris acquisition milestone payment and $ 4.9 million related to the StelKast acquisition milestone payment, which are recorded in intangible assets and accrued liabilities as a non-cash financing activity on the Condensed Consolidated Statement of Cash Flows as of the six months ended June 30, 2020.

DEBT (Narrative) (Details)

DEBT (Narrative) (Details) - Wells Fargo Bank [Member] - USD ($) $ in Millions	May 31, 2020	Jun. 30, 2018	May 31, 2011
Debt Instrument [Line Items]
Credit facility, current borrowing capacity	$ 125	$ 50	$ 50
Credit facility, maximum borrowing capacity	150
Letter of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 25

EQUITY (Narrative) (Details)

EQUITY (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Mar. 11, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 200,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 95,294	$ 126,098
Common stock, shares authorized	775,000,000
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000			500,000,000
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares authorized	275,000,000			275,000,000

EQUITY (Schedule of Shares Repu

EQUITY (Schedule of Shares Repurchased) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020
Equity [Abstract]
Total number of shares repurchased		771	1,920	2,691
Average Price Paid per Share		$ 39.95	$ 38.49	$ 38.91
Dollar amount of shares repurchased	[1]	$ 30,804	$ 73,902	$ 104,706
Approximate dollar value of shares that may yet be purchased under the plan		$ 95,294	$ 126,098	$ 95,294
[1]	Inclusive of an immaterial amount of commission fees

EQUITY (Schedule of Issued and

EQUITY (Schedule of Issued and Outstanding Shares by Class) (Details) - shares	Jun. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Common stock, shares issued	97,756,815	99,825,080
Common stock, shares outstanding	97,756,815	99,825,080
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares issued	75,326,718	77,394,983
Common stock, shares outstanding	75,326,718	77,394,983
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares issued	22,430,097	22,430,097
Common stock, shares outstanding	22,430,097	22,430,097

EQUITY (Accumulated Other Compr

EQUITY (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax			$ (2,898)	$ (7,172)
Other comprehensive (loss)/income before reclassifications			5,145	6,608
Amounts reclassified from accumulated other comprehensive income, net of tax			(949)	(1,164)
Total other comprehensive income/(loss)	$ 7,564	$ 3,752	4,196	5,444
Accumulated other comprehensive loss, net of tax	1,298	(1,728)	1,298	(1,728)
Unrealized Gain/(Loss) On Marketable Securities, Net Of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax			3,599	(168)
Other comprehensive (loss)/income before reclassifications			4,004	4,947
Amounts reclassified from accumulated other comprehensive income, net of tax			(949)	(1,164)
Total other comprehensive income/(loss)			3,055	3,783
Accumulated other comprehensive loss, net of tax	6,654	3,615	6,654	3,615
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax			(6,497)	(7,004)
Other comprehensive (loss)/income before reclassifications			1,141	1,661
Total other comprehensive income/(loss)			1,141	1,661
Accumulated other comprehensive loss, net of tax	$ (5,356)	$ (5,343)	$ (5,356)	$ (5,343)

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)ShareBasedCompensationPlanshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock plans | ShareBasedCompensationPlan	3
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Unrecognized compensation expense, unvested stock options | $	$ 69.4
Weighted average period of recognition, unvested stock options	3 years
Maximum contractual term	10 years
2012 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Base number of shares that may be issuable under stock plan	3,076,923
2012 Equity Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	10,769,230
Annual percentage limit for incremental shares that may be issued	3.00%
2012 Equity Incentive Plan [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	2,135,639
Shares reserved under the 2012 Equity Incentive Plan	17,899,947

STOCK-BASED COMPENSATION (Grant

STOCK-BASED COMPENSATION (Grant Date Fair Values of Options Awarded to Employees) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
STOCK-BASED COMPENSATION [Abstract]
Weighted average grant date fair value per share	$ 12.42	$ 13	$ 14.29	$ 13.65

STOCK-BASED COMPENSATION (Summa

STOCK-BASED COMPENSATION (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares outstanding beginning balance	10,650
Number of shares granted	1,882
Number of shares exercised	(624)
Number of shares forfeited	(228)
Number of shares outstanding ending balance	11,680
Number of shares exercisable	5,616
Number of shares expected to vest	6,064
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Weighted average exercise price per share outstanding beginning balance	$ 35.80
Weighted average exercise price per share granted	52.31
Weighted average exercise price per share exercised	25.49
Weighted average exercise price per share forfeited	46.05
Weighted average exercise price per share outstanding ending balance	38.80
Weighted average exercise price per share exercisable	30.69
Weighted average exercise price per share expected to vest	$ 46.33
Weighted average remaining contractual life outstanding	7 years 3 months 18 days
Weighted average remaining contractual life exercisable	6 years 1 month 6 days
Weighted average remaining contractual life expected to vest	8 years 6 months
Aggregate intrinsic value outstanding	$ 119,873
Aggregate intrinsic value exercisable	96,839
Aggregate intrinsic value expected to vest	$ 23,034

STOCK-BASED COMPENSATION (Intri

STOCK-BASED COMPENSATION (Intrinsic Value and Stock-based Compensation Schedule) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
STOCK-BASED COMPENSATION [Abstract]
Intrinsic value of stock options exercised	$ 12,676	$ 2,260	$ 16,157	$ 10,684
Stock-based compensation expense	7,311	6,297	14,118	12,749
Net stock-based compensation capitalized into inventory	115	84	210	175
Total stock-based compensation cost	$ 7,426	$ 6,381	$ 14,328	$ 12,924

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
INCOME TAXES [Abstract]
Acquired in-process research and development	$ 24,400	$ 24,418

INCOME TAXES (Summary of Effect

INCOME TAXES (Summary of Effective income tax rate) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
INCOME TAXES [Abstract]
Effective income tax rate	5.00%	19.00%	51.60%	19.60%

LEASES (Narrative) (Details)

LEASES (Narrative) (Details)	Jun. 30, 2020
LEASES [Abstract]
Lessee, Operating Lease, Term of Contract	12 months

LEASES (Schedule of Supplementa

LEASES (Schedule of Supplemental Balance Sheet Information Related to Leases) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
LEASES [Abstract]
Right of use assets	$ 4,044
Lease liability - short term	1,720
Lease liability - long term	2,324
Total operating lease liability	4,044
Lease expense as of June 30, 2020	$ 1,748
Weighted-average remaining lease term - operating leases (in years)	3 years 1 month 6 days
Weighted-average discount rate	3.20%

LEASES (Future Minimum Lease Pa

LEASES (Future Minimum Lease Payments) (Details) $ in Thousands	Jun. 30, 2020USD ($)
LEASES [Abstract]
2020 (excluding the six months ended June 30, 2020)	$ 1,083
2021	1,272
2022	1,031
2023	534
2024	384
Thereafter	75
Total undiscounted lease payments	4,379
Less : imputed interest	335
Total operating lease liability	$ 4,044

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Narrative) (Details)	6 Months Ended
	Jun. 30, 2020segment
SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]
Number of operating segments	1

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION (Schedule of Total Sales by Geographical Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 148,922	$ 194,539	$ 339,499	$ 377,486
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	125,154	159,989	283,601	307,527
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 23,768	$ 34,550	$ 55,898	$ 69,959

SUBSEQUENT EVENT (Narrative) (D

SUBSEQUENT EVENT (Narrative) (Details) $ in Millions	3 Months Ended
	Jun. 30, 2020USD ($)
SUBSEQUENT EVENT [Abstract]
Costs associated with recall	$ 1.3